L3Harris Technologies, Inc. (NYSE:LHX) Given Average Recommendation of “Moderate Buy” by Analysts

L3Harris Technologies, Inc. (NYSE:LHX) has received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $266.19.

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $289.00 to $267.00 in a report on Wednesday, January 8th.

Insiders Place Their Bets

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 7,889 shares of company stock worth $1,800,572. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LHX. JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in L3Harris Technologies by 65.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after buying an additional 171,420 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of L3Harris Technologies by 23,627.0% in the 3rd quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after acquiring an additional 169,878 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of L3Harris Technologies by 25.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $35,904,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 0.5 %

Shares of L3Harris Technologies stock opened at $218.64 on Monday. The firm’s 50 day simple moving average is $223.62 and its two-hundred day simple moving average is $232.86. The firm has a market capitalization of $41.47 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 1.75 and a beta of 0.75. L3Harris Technologies has a 12-month low of $200.18 and a 12-month high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the firm earned $3.19 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Analysts predict that L3Harris Technologies will post 13.07 EPS for the current year.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.